Allient (NASDAQ:ALNT) Raised to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of Allient (NASDAQ:ALNT) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

Separately, Northland Securities upgraded shares of Allient from a “market perform” rating to an “outperform” rating and raised their price target for the company from $30.00 to $35.00 in a research note on Tuesday.

Allient Stock Performance

NASDAQ:ALNT opened at $26.75 on Tuesday. Allient has a twelve month low of $16.91 and a twelve month high of $36.33. The company has a quick ratio of 2.18, a current ratio of 4.10 and a debt-to-equity ratio of 0.85. The stock’s 50-day simple moving average is $25.18 and its 200 day simple moving average is $22.57. The firm has a market capitalization of $450.47 million, a PE ratio of 30.40 and a beta of 1.61.

Institutional Investors Weigh In On Allient

A number of hedge funds and other institutional investors have recently bought and sold shares of ALNT. FMR LLC increased its position in Allient by 843.2% in the 3rd quarter. FMR LLC now owns 1,153,537 shares of the company’s stock valued at $21,906,000 after acquiring an additional 1,031,243 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Allient by 23,963.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 406,193 shares of the company’s stock valued at $9,948,000 after purchasing an additional 404,505 shares during the period. Geode Capital Management LLC raised its position in Allient by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 344,166 shares of the company’s stock worth $6,537,000 after purchasing an additional 5,975 shares during the last quarter. State Street Corp lifted its holdings in Allient by 0.8% during the 3rd quarter. State Street Corp now owns 306,239 shares of the company’s stock worth $5,815,000 after buying an additional 2,453 shares during the period. Finally, Pinnacle Associates Ltd. grew its position in shares of Allient by 7.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 267,806 shares of the company’s stock valued at $5,086,000 after buying an additional 19,622 shares during the last quarter. Institutional investors own 61.57% of the company’s stock.

Allient Company Profile

Allient Inc, together with its subsidiaries, designs, manufactures, and sells precision and specialty controlled motion components and systems for various industries in the United States, Canada, South America, Europe, and Asia-Pacific. It offers brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, optical encoders, active and passive filters, input/output modules, industrial communications gateways, light-weighting technologies, and other controlled motion-related products, as well as nano precision positioning systems, servo control systems, and digital servo amplifiers and drives.